STARTUP ODISHA CONCLUDES FUNDSTACK 3.0
Bhubaneswar(22/11/2023): Startup Odisha, an initiative of the MSME Department, Government of Odisha today concluded FundStack 3.0, the annual Startup Investor Summit of the state. Day 2 commenced with two extremely insightful panel discussions by notable investors around ‘Growth of Startup Ecosystem in Tier II & III Cities of India’ and ‘Enabling Investments for Technology-Led Startups’ respectively. Record number of 23 Investors from leading Venture Capital firms like Fluid Ventures, Pentathlon Ventures, Inflection Point Ventures, Orios Ventures and Menterra Social Impact to name a few participated in these discussions sharing their unique understanding of the current Startup landscape. The event transitioned into an exceptionally captivating Ask Me Anything (AMA) session featuring Shradha Sharma, the Founder of YourStory, and Dr.Omkar Rai, Executive Chairman of Startup Odisha. Shradha shared insights from her personal journey of establishing YourStory, shedding light on the challenges and triumphs that entrepreneurs commonly face. Her compelling narrative served as an inspiration, urging all founders to exhibit resilience and pursue their endeavours with unwavering passion.
Expressing her admiration for the burgeoning startup ecosystem in Odisha, Shradha conveyed her eagerness to unearth the untold success stories that the state holds. Her positive outlook and genuine interest in the achievements of startups in Odisha added an extra layer of excitement to the event.
A pivotal point in the event was when Pratap Keshari Deb, Minister Industries, MSME & Energy Department, Odisha gave the inaugural address through which he conveyed an encouraging message by Chief Minister of Odisha Naveen Patnaik. The Chief Minister expressed appreciation for the proactive involvement of investors in engaging with startups from Odisha. Furthermore, he affirmed the state's unwavering commitment to fostering a robust ecosystem, emphasizing initiatives undertaken at the grassroots level to propel the state's entrepreneurial spirit. This insightful message set the tone for the event, highlighting Odisha's dedication to nurturing innovation and entrepreneurship.
Pratap Keshari Deb, Minister Industries, MSME & Energy Department, Odisha said, "Odisha is at centre of industrialisation and innovation. Initiatives like FundStack 3.0 will strengthen our startup ecosystem attracting investors to our startups. As we navigate the path of progress, it's crucial to recognize that our state, like any other, possesses both advantages and disadvantages. Emphasizing our strengths and harnessing the potential within our reach is paramount. We find ourselves in a dynamic growth phase of the startup ecosystem, providing us with a unique opportunity to study the experiences of other states. Learning from their successes and, equally important, their missteps enable us to chart a more informed and strategic course for Odisha. We welcome the investors to our state and hope that in the years to come they identify that Odisha is the state to invest in.” Dr.Omkar Rai, Executive Chairman of Startup Odisha said, "The Government of Odisha is dedicated to cultivating a robust startup ecosystem in the state, and FundStack 3.0 represents our commitment to providing startups with access to capital, mentorship, and guidance. This initiative serves as another crucial stepping stone in our ongoing efforts to establish an ecosystem that is both resilient and formidable, capable of fostering innovation and ensuring sustained long-term growth. FundStack 3.0 goes beyond mere financial support; it embodies our commitment to cultivating a culture of collaboration and knowledge-sharing—integral elements for the triumph of startups. Through this initiative, our aim is to empower entrepreneurs, providing them with the necessary tools to transform their ideas into flourishing businesses and, in turn, contribute significantly to the socio-economic development of Odisha." The top 20 startups selected for Day 2 got an opportunity for exclusive one-on-one meetings on marked by speed dating and networking sessions.
The Top 20 startups will go on to engage with the venture capitalists and angel investors in the coming months for funding, mentorship and guidance with Startup Odisha spearheading it.
